With this year’s dearth of tech IPOs and rise of huge late-stage VC rounds, Square’s upcoming public offering will be thrust into the spotlight as an example of what these highly valued and well-funded companies may expect from public markets; the outlook isn’t very promising. A midpoint pricing of $12 per share would give Square a market cap of $3.9 billion, a stark drop from the $6 billion valuation it recently commanded with its $180 million Series E financing. Results from recent tech IPOs don’t paint a great picture either. Pure Storage’s stock, for example, closed its opening day down 5.8%, and it too saw a step-down from its last private valuation of $3.6 billion to initial market cap of $3.1 billion.
Below is our latest datagraphic that highlights Square’s journey to its IPO and includes important details of the offering.
Gates Capital Management's Excess Cash Flow (ECF) Value Funds have returned 14.5% net over the past 25 years, and in 2021, the fund manager continued to outperform. Due to an "absence of large mistakes" during the year, coupled with an "attractive environment for corporate events," the group's flagship ECF Value Fund, L.P returned 32.7% last Read More
Everything You Need To Know About Square’s IPO [INFOGRAPHIC]